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- AuKing Mining (AKN) places its shares in a trading halt pending the release of a capital raising announcement
- The company will remain in the halt until April 20 or when the announcement is released, whichever occurs first
- On April 7, AuKing reported a 30 per cent increase to the mineral resource estimate at its Koongie Park copper zinc project in Western Australia
- The new total resource estimate reads 8.9 million tonnes at 1.01 per cent copper, 3.67 per cent zinc, 0.16 g/t gold and 0.77 per cent lead
- Shares in AuKing last traded at 16 cents on April 13
AuKing Mining (AKN) has placed its shares in a trading halt pending the release of a capital raising announcement.
The company will remain in the halt until April 20 or when the announcement is released, whichever occurs first.
AuKing is yet to disclose how much it intends to raise or what it will use the money for once received.
On April 7, AuKing reported a 30 per cent increase to the mineral resource estimate (MRE) at its Koongie Park copper-zinc project in Western Australia’s East Kimberley region.
The new total resource estimate reads 8.9 million tonnes at 1.01 per cent copper, 3.67 per cent zinc, 0.16 grams per tonne (g/t) gold and 0.77 per cent lead.
AuKing has said the estimate has provided multiple opportunities for it to target higher grade extensions and repetitions within favourable host rocks.
AuKing has engaged CSA Global to prepare an update to the existing JORC mineral resource estimate for the Onedin and Sandiego deposits.
Shares in AuKing last traded at 16 cents on April 13.
